Chinese SaaS startup IfChange secures $80M in Series C round

IfChange, the Shanghai-based online HR platform, has recently secured $80 million in a Series C funding round spearheaded by both young VC company Lightspeed Venture Partners and the major Chinese firm Sunshine Insurance.

The round is also joined by existing investor Lightspeed China Partners, Cathay Capital and Schroder Adveq.

According to IfChange’s founder and CEO Zhou Youhong, the fresh capital will be mainly used to accelerate the digitalisation of the HR platform, product research and development, as well as talent and market expansion. 

IfChange is a SaaS startup that aims to disrupt the HR industry by developing a platform that provides smart screening, resume analysis, organization structure mapping for enterprise users. It claims to have serviced a big pool of clients including Alibaba, Tencent, Vanke and others. 

“The digitisation of human resource, to make it smarter and to have it all on a platform is a big thing. There are many big, successful platform companies in this sector out of China. But the Chinese market is even bigger and it has just begun,” said Lightspeed China’s founding partner Herry Han. 

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